Tata will invest $1.5 billion

Tata Motors will invest $1.5 billion (£800 million) to expand its manufacturing capacities, said Managing Director Ravi Kant at a press conference on Monday.India’s biggest car maker, which will start selling the low-priced Nano in its home market later in 2008, plans to make sustained investment over four to five years. Tata was last week announced as the new owner of Jaguar and Land Rover. MD Kant also announced that the company is planning to raise $4 billion (£2.2 billion) for Tata’s ‘local and overseas commitments’, which are thought to be focussed around the two British brands.